Signs clearly demonstrates Europe began a dangerous period

Chart shows Morgan Stanley's first German bond yields are rising as bond yields in other countries.

If this trend continues, it's a huge problem, because it means that Germany is no longer a special place within Europe can make safe haven, where bond yields lower while bond yields in other countries is increasing.
The fact that German bond yields rose sharply suggests that bond auction yesterday of the German defeat was not merely a technical problem, which is reflected (albeit slightly) the risk credit is slowly increasing in Germany, and that would be a big problem.

 Also, whether or not valid, the opinion poll of Morgan Stanley FX deserve a big reputation when bond yields fall the German government has stopped a few days ago, even if the income of foreign bonds of Eurozone (peripheral yields) ('s bond yeild peripheral countries) are flat.